Bitwise Updates Dogecoin Aptos ETF Filings Amid SEC Engagement

Bitwise Asset Management has updated its filings with the Securities and Exchange Commission (SEC) for proposed exchange-traded funds (ETFs) focused on Dogecoin and Aptos. This move indicates potential regulatory engagement as the SEC reviews over 70 pending altcoin ETF applications. The amended Form S-1 documents suggest ongoing dialogue between the investment firm and federal regulators, according to ETF analysts who monitor such developments.

Bitwise filed updated S-1 forms for both the Dogecoin and Aptos ETF proposals, which may signal SEC engagement. Aptos, a Layer 1 blockchain platform, recently gained recognition from Wyoming's Stable Token Commission as a top candidate for deploying the state's official fiat-backed stablecoin. The Wyoming commission placed Aptos in a first-place tie with Solana for the WYST project, marking significant institutional validation for the blockchain at the state level.

The amendments come as institutional acceptance for certain cryptocurrencies gains momentum. ETF analyst Eric Balchunas highlighted the significance of the filings on social media, noting that amended S-1 documents typically indicate SEC engagement. "Good signs as it indicates SEC engagement, and tracks with other spot approvals," Balchunas wrote, referencing the regulatory pattern seen with previously approved cryptocurrency ETFs.

Bitwise was the first investment firm to file for Dogecoin and Aptos-based funds. The company has become a leader in altcoin ETF applications since new SEC leadership took office, though neither product initially ranked among the most likely approval candidates. The Dogecoin filing amendment includes a notable addition: Bitwise incorporated in-kind creation and redemption mechanisms into the updated proposal, a feature that several major ETF issuers have lobbied for without apparent progress for months. The inclusion suggests potential SEC receptiveness to the request, though regulatory intentions remain unclear.

Neither Dogecoin nor Aptos has achieved the same level of institutional momentum recently. Dogecoin, widely recognized as the original meme cryptocurrency, lacks the type of governmental validation that Aptos received through Wyoming's stablecoin selection process. The SEC currently faces a substantial backlog of cryptocurrency ETF applications, with more than 70 altcoin ETF proposals awaiting review. New filings continue to accumulate as investment firms seek exposure to various digital assets beyond Bitcoin and Ethereum.

Bitwise's selective approach to amendments is noteworthy. The firm chose to update only its Dogecoin and Aptos proposals despite having numerous other altcoin ETF applications pending with the Commission. This targeted strategy may reflect internal assessments about which products have the strongest approval prospects. The regulatory landscape remains fluid, however. Wyoming's institutional embrace of Aptos through its stablecoin initiative represents a significant development that could influence federal regulatory perspectives. The state's selection process evaluated technical capabilities, security measures, and operational readiness across multiple blockchain platforms.

Commission officials have not provided explicit timelines for reviewing the growing queue of cryptocurrency ETF applications. The agency's approach to altcoin ETFs continues evolving as it processes an unprecedented volume of proposals from investment firms seeking to capitalize on institutional cryptocurrency demand. While amended filings suggest regulatory dialogue, the SEC's ultimate decisions on Bitwise's Dogecoin and Aptos ETF proposals remain uncertain. The Commission faces mounting pressure to address the growing backlog of 70-plus altcoin ETF applications as institutional interest in cryptocurrency investment products continues expanding.